Tom McDowell’s Barter Blog

Those who quit with a positive balance are rare. Mostly, the exchange is owed money when this situation arises. Our contract carries a provision so that anyone who does quit with a positive balance must agree to spend his or her dollars within a pre-determined timeframe. At this point those dollars would become income to the exchange as opposed to a payable. This situation could affect your tax situation.For those exiting the system while in a negative balance, you need protection from your contract. Depending on the amount of dollars owed, you may or may not wish to pursue legal action. Ultimately, the exchange is responsible for the dollars that have been extended and they should be replaced back into the system. To learn more about barter and the barter training system, contact Tom McDowell Today!